London-listed Beazley and reinsurance giant Hannover Re are both trading at a significant premium to year-end book value following the rebound in global equities that swept European markets last week.
While the economy remains in a state of flux over the coronavirus, Pool Re CEO Julian Enoizi outlines the ways governments could emulate the HM Treasury’s unlimited support of the UK’s terrorism pool to create insurance markets for risks that are currently commercially unviable…
Losses incurred from the cancellation of the annual Wimbledon Championships tennis tournament are likely to be covered by pandemic insurance cover as organisers prepare to announce whether or not this year’s tournament will take place as planned.
European (re)insurance equities slipped in early trading on Monday as recurrent coronavirus jitters and renewed pressure on oil prices dented investor confidence.
Scor appears to have responded to activist investor CIAM’s complaint last week that 17 April was too early to hold its annual general meeting (AGM) and has now announced it will take place on 30 June.
Loss aggregator Perils has issued its initial loss estimate for extratropical cyclone Victoria, which is also known as storm Dennis, with insured property losses currently standing at Eur286mn ($317.3mn).
Activist investor CIAM has reignited its long-standing skirmish with Scor, hitting out at the reinsurer’s decision to hold its AGM during the Covid-19 crisis and reiterating criticisms on the carrier’s executive pay policy.
Moody’s has downgraded the outlooks of three trade credit insurers – Atradius, Coface and Clal – who it believes would be negatively impacted by higher claims frequencies and the havoc wrought to equity markets by the spreading coronavirus.
US stock futures dropped ahead of the opening bell on Friday, signalling an end to a three-day rally in American equities after European markets ran out of steam amid mounting evidence that the coronavirus pandemic is taking a severe toll on the global economy.
Reinsurers remain “in reasonable shape overall” despite the hit to capital and earnings from financial markets turmoil that has led to the Solvency II ratios of Europeans in the sector dropping from 235 percent to 206 percent in the year-to-date, according to Guy Carpenter.
Global equities retreated on Thursday while US stock futures pointed downwards as investors await a report that will give a first sense of how much damage the pandemic is doing to the American labour market.
Wall Street futures followed European stocks into reverse today as markets shed gains from an earlier surge after lawmakers in Washington reached an agreement on a $2trn stimulus package aimed to support the economy harmed by the coronavirus shut-down.
European (re)insurance stocks have leapt for a second day this morning following a historic rally in trading yesterday as investors appear endowed with a fresh sense of optimism from the enormous transatlantic stimulus packages and the sector’s defensive appeal.
Despite yesterday being the best day for European equities markets since 2008, the coronavirus-inspired March rout in global equities means three out of four of the Continent’s largest P&C carriers still trade at a discount to book, based on year-end values.
European (re)insurance stocks rallied on Tuesday in their biggest single-day surge since 2008 as investors reacted to tough talk and stimulus measures from policymakers and digested the Fed’s pledge to buy an unlimited amount of bonds to shore up the World’s largest economy.
Risk managers’ association Airmic has halted plans to host its annual conference in Edinburgh this June as the coronavirus pandemic escalates, following in the footsteps of US counterpart RIMS.
BMS Iberia, the Spanish subsidiary of BMS Group, has acquired Granada, Spain-based broker Jurado Mata.
European (re)insurance stocks jumped sharply in early trading on Tuesday following Asia-Pacific markets back into the green as investors react positively to the US Federal Reserve, which yesterday said it will buy as many bonds as it needs to support markets and the economy.
Asia-Pacific (re)insurance stocks rallied on Tuesday with US and European markets set to follow after the US central bank vowed to buy whatever amount of government bonds necessary to shield the economy from the impact of the coronavirus pandemic.
Perils has estimated that Cyclone Sabine, also known as Ciara or Elsa, which struck the UK, Western and Central Europe in February is set to ring up an insured loss bill of Eur1.6mn ($1.7mn).